Galileo Inn. Share Discussion Threads

[cappagh] 08/8/2003 18:30

Mrk
How do you know tha they are not
getting paid?
Do you beleive what they say?

[cappagh] 08/8/2003 10:21

All too easy for me to pass the blame onto Mark Warburton and the directors of Galileo.

Mrk
These are your words, well who do you blame?
Whome at GAI make the decisions?
Why have the shareholders not been told whats happening?
(We shareholders are the owners of the company)

[cubes101] 07/8/2003 10:36

All the players sold out pre Xmas

[efficient trader] 06/8/2003 16:26

Does anybody Know who were the major investors in this company, They must be looking at present situation.

[jubjee] 31/7/2003 00:50

To my knowledge the last annoncement from GAI was 17 April 2003, when they confirmed that they were no longer supporting their investments and 'that further annoncements would be made in due course'

This is after the suspension of shares on 1 April 2003 (april fools day).

Therefore the directors of GAI have been doing "something" for almost four months, however, they either can't or won't tell us what that is!

Are each of the director's taking a full salary for this period? and if so for how long before theres nothing left?

All the dates GAI have given me over the phone have come and gone, yet further examples of their complete inability to achieve anything they say they will!

I am continuing to press the FSA & LSE to investigate the performance of this co. and would strongly urge other shareholders to do the same, four months have passed with no information, this is UNACCEPTABLE and we shouldn't stand by and let them get away with it!

[hugepants] 30/7/2003 20:46

"All too easy for me to pass the blame onto Mark Warburton and the directors of Galileo."

Why wouldn't you blame them? They are either idiots or crooks. They are taking YOUR money and using it to prop up THEIR own loss-making companies. Any investor should expect a certain level of competence from a compnay management. Do you think you received that? They were charged with investing a cash pile of 5M just over 12 months ago. It appears to have all vanished, flushed down the proverbial toilet. There are no accounts and the company has been suspended for months on going concern issues. And why the secrecy? Shareholders dont have a clue whats going on. MrK, Im sorry I just dont understand. GAI existed for a mere 12 months before suspension. If that isn't the management's fault then whose is it?

[jubjee] 30/7/2003 18:43

Mr K

Many thanks for your informative post, this thread should be formum for shareholders with a wide variety of views, you clearly have a useful source of information that others do not have access to.

If anything Im pleased the recent posts have prompted your to share the same with us.

I trust that you are giving people 'correct' information, as I am unaware of any announcements regarding director's salaries, sense-sonic or october deadlines, i can only assume you have recieved more information from the Co. than was available to others.

My last conversation with Mark was polite and informative if somewhat short, as he wasn't able to tell me anything at that time.

Some investors have waited very patiently for some information about their money, but after four months you must understand flustration creeping in.

Im sure others would apprechiate you sharing your views and any info you come across, at the very least it makes the waiting interesting.

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[nav_mike] 30/7/2003 18:34

In deference to Mr.K I did suggest a long time ago that Sense Sonic might be the problem - it being a subsidiary of GAI meant its results would have to be consolidated and thus could be the reason for the hold up. Big disaster at SS means GAI accounts look dreadful.

Im not prepared to give the GAI board more than the slightest shred of credibility (if only because of their total disregard for communication) but seeing as Ive written off my investment, I have nothing to lose by believing Mr.K's take on things

[mrkournikova] 30/7/2003 18:06

Stop giving people incorrect information!

Mark Warburton stopped both his own and the other directors salaries months ago!! It really strikes me that all investors in Galileo are blaming the management for their investment mistakes. I believed the Galileo story and have to accept my own mistakes here, no good me blaming others. All too easy for me to pass the blame onto Mark Warburton and the directors of Galileo.

I haven't posted here for ages, simply because I had nothing to add to the useless debate of blaming the management.

Now I have an idea of what is going on, I've spoken to people, I can relay the facts.

There is a real possibility that Galileo will release the accounts and be traded on the LSE once again. Mark Warburton has been working his socks off to give Galileo some form of future, but the blame lies not with Galileo but with Sense-Sonic, I can say no more here. Yes, he did take a 2 week holiday recently but that was well deserved.

I have to be careful with what I say but I believe that Mark Warburton will succeed in getting Galileo trading again. But then again, he faces a struggle still...either way all will be revealed come the end of October. No announcement by then and it's game over.

Give the guy some support though!

Thanks

Mr K

[hugepants] 30/7/2003 10:06

you're right. Why cant they release results? They are probably atrocious but so what? What GAI are doing should be illegal.

[cubes101] 30/7/2003 09:34

Keep calling their offices and cause annoyance - this is only way to reach an end point.

5 million against the wall - accounts are factual not crystal ball gazing - especially for Sept 2002

[jubjee] 30/7/2003 08:10

Another month of salaries banked and still no news, cash slowly being sucked dry!

got to say im surprised at the lack of shareholder pressure, the directors must assume they have our blessing to carry on in this way?

[jubjee] 23/7/2003 08:06

grebo,

you'd proberbley have to find them in spain!

[grebo] 22/7/2003 17:12

Yeah, but what a useless reply. It doesn't even say if they think GAI did anything wrong, let alone what? It's also extremely vague about what would happen if they did.

I emailed the FSA a couple of times about another company a couple of years back and though they did reply (and did so reasonably quickly), those replies were just as utterly useless.

The thing I still find galling about this situation is that the directors seem to have NO intention of letting us know what is going on, and none of the so-called regulatory bodies that supposedly are there to protect private investors give a damn.

I think the only way we'll get any info would be to march on GAI HQ and face them down.

[cappagh] 22/7/2003 15:09

Its about time someone did get
a reply!!!!

[jubjee] 22/7/2003 08:11

From another BB posted this morning:

Response from the LSE regarding GAI's performance

Dear Sir

Firstly let me apologise for the delay in responding to you, regarding the issues you raise in your
email in relation to Galileo Innovation plc ('the Company').

Where concerns arise (either through our own enquiries or where they are brought to our attention)
in relation to a company's compliance with the AIM rules the Exchange will take appropriate steps
to investigate any potential breaches of those rules. Our duty of confidentiality precludes me
from commenting on individual cases , but I would like to assure you that any issues raised that
indicate a company may have breached its responsibilities under the AIM Rules are investigated
thoroughly and appropriate action taken. Such action may include sanctions as provided for by the
rules and in certain circumstances referral may be made to other regulatory bodies.

If you have concerns about the propriety of the conduct of directors or a possible breach of
company law, you may wish to raise these directly with the Company Law and Investigations
Directorate of the Department of Trade and Industry ('DTI') , which has a responsibility for such
issues. More information regarding the DTI can be accessed from www.dti.gov.uk.

Thank you for bringing these matters to our attention and once again apologies for not being able
to respond sooner.

Kind regards.

Ray Knowles
Trading Services - AIM Regulation
tel: [phone]
fax: [phone]
[e-mail]

[itstelboy] 10/7/2003 21:14

I think the latter could just possibly be the case !!

Even the FSA haven't had the courtesy to reply to my e-mails regarding GAI.

[jubjee] 10/7/2003 11:35

Are the directors on a perminant holiday?

PD only seems to comment from his villa or yacht in Spain. Now MW gone as well.

Surely if your co. was in such a disgraceful state you wouldnt disapear on holiday? this must mean the directors have resolved everything and good news is about to flow, MW must be rewarding him self for a job well done!

Or its possible they just couldnt give a toss about shareholders interests and are having a jolly good time at our expense!

Who knows, You decide.